Element79 Gold Corp Secures LOI For Launching Tailings Reprocessing Business In Arequipa, Peru

Element79 Gold Corp Secures LOI For Launching Tailings Reprocessing Business In Arequipa, Peru

(TheNewswire)

Vancouver, BC September 26, 2024 TheNewswire Element79 Gold Corp (CSE: ELEM, OTC: ELMGF, FSE: 7YS0, Hereinafter "Element79 Gold") a mining company focused on gold and silver committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects is pleased to announce the signing of a Letter of Intent (LOI) with S.M.R.L. PALAZA 16 (" Palaza "), marking a significant milestone in the Company's strategic efforts to restart the Lucero mine and concentrate its focus in the Arequipa, Peru region. This agreement represents a unique and substantial economic opportunity for both parties involved, with multiple additional social and environmental benefits for the local region and community.

Under the terms of the LOI, Element79 Gold will have the exclusive right to purchase and process approximately 1.3 million tons of tailings currently controlled by Palaza . These tailings, a byproduct of previous mining activities at the Shila and Paola Mines (now known as the Lucero Mine), present a valuable resource for reprocessing for commercial benefit, to cooperatively strengthen regional and community ties via Palaza 's long-term relationships in the region, as well as the tailings project stands to become a stronger foothold for the Company's mining operations in the region immediately surrounding the Lucero mine.


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Image 1: Element79's core mineral rights holdings of the Lucero past-producing mine, outlining the tailings facilities facilities (Relaveras) and former Staging Area (Desmontera)

Key Highlights of the LOI Agreement:

Strategic Acquisition: Element79 Gold will purchase the tailings from Palaza for a competitive price of USD $10 per ton, plus VAT (18%), with a base case (optional total batch purchase) of $10 per metric ton at USD 2,200 per ounce of gold, subject to increases based on the market value of gold at the time that batches are purchased. This acquisition aligns with Element79 Gold 's strategic objective to enhance its resource base.  The 43-101 and PEA Studies to be completed on the tailings piles during the Due Diligence period and through 2024 will feed further institutional funding of the Company's growth.

Construction of Processing Plant: Palaza has authorized Element79 Gold to construct a processing plant on its property. This facility will not only process the acquired tailings but also become a foothold to accommodate other mineral ore inputs, from Lucero's production and regional Artisanal Small-scale Miners (ASMs), with an eye to maximize operational efficiency and output.

Initial Deposit and Due Diligence: Element79 Gold will make an initial non-refundable deposit of USD $25,000, followed by a comprehensive due diligence period of 75 days. This thorough evaluation will ensure the viability and profitability of the reprocessing project.  Upon completion of Due Diligence, an additional USD $50,000 deposit will be required to proceed, in conjunction with the completion of the Definitive Agreement.  All deposits paid will be credited as prepayments for tailings.

Royalties and Economic Impact: In addition to the purchase price, for all tailings processed, Element79 Gold will pay Palaza a 1% royalty based on the London Metals Exchange (LME) spot price of gold, reflecting the dynamic and lucrative nature of this venture. This agreement is poised to generate significant economic benefits for both Element79 Gold and Palaza, as well as contribute positively to the local economy in Chachas, and other neighbouring communities in Arequipa.

New Technologies Being Tested to Implement: Element79 Gold has been reviewing a number of ways to increase the safety and minimize the environmental impact of the proposed tailings processing plant, and through its due diligence period, will be testing milling and processing with and without chemicals, milled ore beneficiation, efficiencies, and soil impermeability to prevent soil leaching.

Community and Environmental Considerations: The project will be executed with full compliance with local regulations and in close collaboration with Chachas Community and other surface landholders. Element79 Gold is committed to ensuring that all activities meet stringent environmental and community standards.

PROJECT DATA AND ECONOMIC PROJECTIONS

Total Tailings Volume: Approximately 1.3 million tons of tailings available for reprocessing, located on the same ingress/egress road to the Lucero mine.

Processing Plant Capacity: The new plant will have the capability to handle up to 350 tons per day (tpd) of mineral.

Economic Impact: The agreement is expected to generate substantial revenue streams for both parties, with significant contributions to the local economy through job creation and community investments.

Potential Revenue Generation from Tailings:

NOTE: *all estimates subject to change via data collected via the Due Diligence period, to be reaffirmed via third-party Pre-Economic Analysis report*

Estimated Recovery: Based on 2011 and 2012 Plenge Lab tests, AuEq found in the tailings at that time was approximately 1.5g/t.  Gold solubility/recovery from the tailings is projected at 85% and silver at 75%. Palaza's estimates are that there is approximately 50,000oz of gold equivalent recoverable through the life of the project.

Projected Revenue: Potential estimated gross AuEq of $100 million (assuming $2,000 gold price) with 80% recoverable resources ($80 million), minus $16 million input (tailings) cost and scalable $6-20 million plant cost, resulting in $44-58 million gross over a 15-year project life ($2.9-5.3 million annual gross).

SOCIAL AND ENVIRONMENTAL BENEFITS:

Social: This venture has been a long-standing issue for the local population by completing the final remediation of the with the four piles of dry-stacked tailings that have been left inert and covered by "bio-membranes" and limestone rock for approximately 19 years without remediation.  In reprocessing these tailings, they will be put in their final resting place along with additional tailings created by production from Lucero and other regional ASMs.

Environmental: Cleans up a benign environmental issue that has been outstanding for the past 20 years.

Economic: Creates a revenue-positive project that serves as a catalyst for building a production plant on-site and becoming a regional hub for local ASMs.  A common thread of conversation with the Chachas community and the Lomas Doradas artisanal mining association has been the desire to have a plant more regionally proximate to the community, as they are currently shipping mined ores approximately 600km away to have it processed today. Helping to eliminate logistical costs, risks and time are all beneficial factors to local miners.

NEXT STEPS:

Due Diligence: Upon paying the deposit, the Company will have 75 days to complete due diligence, which data will feed a 43-101 Mineral Resource Estimate report and Preliminary Economic Assessment (PEA). A Go/No Go decision will follow these reports, with a USD $50,000 payment due upon the completion of the Definitive Agreement.  All deposits paid will be credited as prepayments for tailings.

The Company will pull augur samples from all four piles and, provided that lab tests meet required internal decision-making standards, the Company will have a 43-101 compliant Mineral Resource Estimate of the tailings generated as well as a third-party PEA completed, which will encompass the project economics, work flow through the life of the project and the final resting place for up to 2.5M tons of tailings generated from processing the tailings and other throughput.

The Company anticipates that these reports will form the foundation of what it will require to obtain institutional funding for the development of the mill/tailings processing facility as well as restart commercial production at the Lucero mine.

Permitting, Community Consultation: Securing permits for working with the tailings and building a plant will be process undertaken with the Chachas community and state authorities through Fall 2024/Winter 2025, aiming for a 90-day plant construction start in estimated end of Q1 to start of Q2 2025 after the rainy season ends.

"We are thrilled to enter into this strategic partnership with Palaza, which underscores our ongoing commitment to strengthening our presence and operational capacity with innovative and sustainable mining practices," said James Tworek, CEO and Director of Element79 Gold Corp. "The Palaza team have worked in the region for decades, have solid local relationships and have valuable experience of having explored and worked at the Shila mine in the past.  The end point of this agreement not only enhances Element79's accessible resource base but also positions us for long-term growth and profitability, while helping remediate the tailings piles to stable closure as well as provide a solution to many of the local logistical obstacles to increasing production from the Lucero mine and other mines in the region. We are confident that the reprocessing of these tailings w ill yield significant economic benefits for both Parties and the Communities involved as well as strengthen our presence in the Peruvian mining sector."

Qualified Person

The technical information in this release has been reviewed and verified by Kim Kirkland, Fellow of AusIMM #309585, Chief Operating Officer of Element79 Gold Corp, and a "qualified person" as defined by National Instrument 43-101.

About S.M.R.L. PALAZA 16

S.M.R.L. PALAZA 16 is a Peruvian mining company with extensive experience in the management of Andean mining projects, including reprocessing of mining tailings. Located in the Arequipa region, PALAZA is dedicated to leveraging its decades of experience in the region and resources for sustainable and profitable operations.

About Element79 Gold Corp

Element79 Gold is a mining company with a focus on exploring and developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production in the near term.

The Company holds a portfolio of four properties along the Battle Mountain trend in Nevada, and the projects are believed to have significant potential for near-term resource development. The Company has retained the Clover project for resource development purposes and signed a binding agreement to sell three projects with a closing date on or before November 30, 2024.

The Company also holds an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process.

For more information about the Company, please visit www.element79.gold

Contact Information For corporate matters, please contact:

James C. Tworek, Chief Executive Officer and Director

E-mail: jt@element79.gold

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1.403.850.8050

E-mail: investors@element79.gold

Cautionary Note Regarding Forward-Looking Statements This press contains "forward-looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", 4 of 4 "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19; risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the Company's other public disclosure documents, available on www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.  Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2024 TheNewswire - All rights reserved.

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High-grade gold project with near-term cash flow potential

Element79 Gold Engages Rangefront Mining Services to Prepare NI 43-101 Technical Report on Gold Mountain Project; Site Visit Completed

Element79 Gold Engages Rangefront Mining Services to Prepare NI 43-101 Technical Report on Gold Mountain Project; Site Visit Completed

(TheNewswire)

Vancouver, BC TheNewswire - August 6, 2025 Element79 Gold Corp (CSE: ELEM,OTC:ELMGF | FSE: 7YS0 | OTC: ELMGF) ("Element79 Gold" or the "Company" ) is pleased to announce that it has formally engaged Rangefront Mining Services of Elko, Nevada to prepare a National Instrument 43-101 Technical Report ("NI 43-101 Report") for the Company's Gold Mountain Project located in Lander County, Nevada.

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Element79 Gold Corp Announces Execution of Definitive Agreement to Acquire Gold Mountain Project in Nevada

Element79 Gold Corp Announces Execution of Definitive Agreement to Acquire Gold Mountain Project in Nevada

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Vancouver, BC TheNewswire - August 1, 2025 Element79 Gold Corp. (CSE: ELEM,OTC:ELMGF) (OTC: ELMGF) (FSE: 7YS0) ("Element79 Gold", the "Company") is pleased to announce that it has executed a definitive Asset Purchase Agreement (the "Agreement") dated July 31, 2025, with Donald James McDowell (the "Vendor") for the acquisition of a 100% interest in the Gold Mountain Project located in Lander County, Nevada.

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Metals & Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

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Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Metals & Mining Virtual Investor Conference, held July 23 rd and 24 th are now available for online viewing.

REGISTER AND VIEW PRESENTATIONS HERE

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Metals & Mining Virtual Investor Conference Agenda Announced for July 23rd and 24th

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Virtual Investor Conferences, the leading proprietary investor conference series announced the agenda for the Metals & Mining Virtual Investor Conference to be held July 23 rd and 24 th .

Individual investors, institutional investors, advisors, and analysts are invited to attend.

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Element79 Gold Corp Welcomes Michael Smith as Vice President, Corporate Development

Element79 Gold Corp Welcomes Michael Smith as Vice President, Corporate Development

(TheNewswire)

Vancouver, BC TheNewswire - July 21, 2025 - Element79 Gold Corp. (CSE: ELEM,OTC:ELMGF | FSE: 7YS0 | OTCQB: ELMGF) ("Element79 Gold" or the "Company") is pleased to announce the appointment of Michael Smith as Vice President, Corporate Development, engaged under contract to support the Company's renewed growth trajectory and strategic capital markets initiatives.

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RUA GOLD Expands Reefton Drill Program and Provides Strategic Outlook

RUA GOLD Expands Reefton Drill Program and Provides Strategic Outlook

Rua Gold Inc. (TSXV: RUA,OTC:NZAUF) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to announce the commencement of an expanded drilling program at its Reefton Project on the South Island of New Zealand, and outlines the strategy for its fully funded 12-month exploration program. 

   

 Highlights: 

 

Robert Eckford, CEO of Rua Gold commented: "We closed Q2 2025 with $14 million in the treasury, placing us in a strong position to execute on our aggressive exploration plan in New Zealand. Over the past month, our Board and Management team have been focused on shaping the Company's strategy to transition us from an explorer to a developer.

With New Zealand's highly supportive permitting regime, our goal is to rapidly build ounces on our balance sheet and enter the "Fast Track Permitting Process" in 2026.

As our gold-antimony resource continues to grow rapidly - and with antimony at the top of every nations' critical minerals lists - the significance of this resource expansion and accelerated permitting is substantial for both Rua Gold and New Zealand"

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Figure 1: Conceptual Plan for Auld Creek Resource Expansion Drilling

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Figure 2: Alexander River long-section schematic 

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Reefton Goldfield Exploration Overview

The Reefton Goldfield is an orogenic district that produced 2Moz of gold at grades up to 50g/t up to the early 1900s. Rua Gold has assembled 120,000 hectares within this district that has seen limited drilling in the last 30 years. This goldfield is analogous in age, geology, mineralization style, and geological structure to that of Southern Cross Gold and the Fosterville Gold mine.

Auld Creek: Rua Gold commenced drilling at Auld Creek in December 2024 and has completed ~2,800 metres of drilling. The targeted program aims to add a further 4,000 metres of drilling across four mineralised shoots identified from surface exploration work (Figure 1). Following this, the resource will be refreshed and updated into the 43-101 report.

The Company is targeting an increase of the Auld Creek resource to over 300,000 gold-equivalent ounces by the end of 2025. This target is a global estimate based on current resource surface extension of 350 metres being extended over a 1km on surface at similar depths of 280 metres. Insufficient exploration to define a mineral resource has been completed to date and there is uncertainty if a mineral resource estimate will be delineated, therefore economic decisions should not be made on this target.

Auld Creek is situated between two past producing mines, Globe Progress mine, and the Crushington Group of mines which collectively produced 933,000oz at 14.0g/t Au (Barry 1993).

Cumberland: Initial drilling from Rua Gold confirms the consistency of the near-surface gold mineralization and supports the strong potential of this target. Ongoing drilling is targeting the southern surface extension 100m along strike and at depth. Intensified surface exploration is underway to delineate additional drill targets along the 2.5 km long gold mineralized shear zone.

Additional targets are currently being modelled and surveyed across the Reefton Goldfield, including Caledonia in the north, and Alexander River in the south. Caledonia represents a historical mine recording the highest grade production (9 oz/ton gold) in the Reefton Goldfield. It was abandoned early and represents a shallow development target.

"The first crushing yielded at the rate of 9 oz. per ton, with subsequent crushings averaging about 4 oz. per ton. The ore-shoot had a steep easterly dip, and pitched to the north at about 30°. It had an average length of about 180 ft. and a width of 3 ft." * Henderson 1917.

Alexander River returned historical production of 41Koz @ 26g/t Au, mining ceasing in 1942 due to WWII. Mineralization outcrops over 1.2kms, comprises high-grade quartz reefs and disseminated sulfides; predecessor Siren Gold drilled extensively along the structure, and intersected some exceptionally high-grade zones which remain open at depth (Figure 2 Alexander River long-section schematic).

An Inferred Resource 130koz @ 4.1g/t Au* has potential to develop along strike and at depth, remodeling and further drilling is a priority of the strategic plan.

*NI 43 101 Technical Report on the Reefton Project, New Zealand. Prepared for Rua Gold Inc, 30 October 2024.

Glamorgan Exploration Overview

Glamorgan on the North Island is an exciting new epithermal gold target. Rua Gold has completed extensive surface exploration over the past 12 months as a precursor to drill targeting. Four significant gold-arsenic soil anomalies trending north, north-east and north-northwest strike out individually over 4 kms in length. Drill applications have now been submitted and drilling is expected to commence in Q4 2025.

Results from the work to date indicate the classic features of a major epithermal gold-silver system and are identical to the surface features of neighboring OceanaGold Project, Wharekirauponga, which is currently in New Zealand's Fast Track Permitting process with a decision expected in Q4 2025.

Importantly, Rua Gold's Chief Operating Officer, Simon Henderson was a member of the exploration team that led to the discovery of Wharekirauponga and has more the 25 years working in the region.

New Marketing Agreements

Capital Gain Media Inc.: On August 4, 2025, the Company entered into an investor relations agreement with Capital Gain Media Inc. ("Capital Gain"). Pursuant to the investor relations agreement, Capital Gain has agreed to provide content development and digital marketing services. The investor relations agreement will remain in effect for five (5) months commencing on August 4, 2025. In accordance with the terms and conditions of the investor relations agreement and as consideration for the services provided by Capital Gain, the Company agreed to pay an aggregate cash fee of US$120,000, plus applicable taxes. As of the date hereof, to the Company's knowledge, Capital Gain (including its directors and officers) does not own any securities of the Company and has an arm's-length relationship with the Company. Under the Capital Gain Agreement, the Company will not issue any securities to Capital Gain as compensation for its marketing service. Capital Gain provides investor relation services and the contact information for Capital Gain is: Capital Gain Media Inc., 1111 West Hastings Street, 15th Floor, Vancouver, BC V6E 2J3. The contact person of Capital Gain is Graham Colmer, email: admin@capitalgainmedia.com, phone: 1 (604) 379-8363.

Sidis Holdings: The Company has entered into a Services Agreement dated July 30, 2025 (the "Sidis Holdings Agreement") with Sidis Holdings pursuant to which Sidis Holdings has agreed to provide investor relations, market awareness campaigns and digital media support. Pursuant to the terms of the Sidis Holdings Agreement, such services are to be provided over a 6-month period, for a fee of US$120,000 plus applicable taxes. Sidis Holdings is a full-service marketing agency based in Hong Kong, and is headed by Francis Barker. As of the date hereof, to the Company's knowledge, Sidis Holdings (including its directors and officers) does not own any securities of the Company and has an arm's-length relationship with the Company. Under the Sidis Holdings Agreement, the Company will not issue any securities to Sidis Holdings as compensation for its marketing service.

ABOUT Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of Rua Gold's two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t.

The Company's Glamorgan Project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation's biggest gold mining project, Wharekirauponga.

For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.

TECHNICAL INFORMATION

Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects and Chief Operating Officer and a director of Rua Gold, has reviewed and approved the technical disclosure contained herein. Mr. Henderson has verified the data disclosed by running checks on the location, analytical, and test data underlying the information in the technical disclosure herein.

Rua Gold Contact

Robert Eckford
Chief Executive Officer
Email: reckford@RUAGOLD.com
Website: www.RUAGOLD.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding: the Company's strategies, expectations, planned operations or future actions, including but not limited to exploration programs at its Reefton and Glamorgan projects and the results thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's short form base shelf prospectus dated July 11, 2024, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261264

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FinEx Metals Commences Drill Program At Ruoppa Gold Project

FinEx Metals Commences Drill Program At Ruoppa Gold Project

(TheNewswire)

Vancouver, British Columbia, August 5, 2025 TheNewswire - FinEx Metals Ltd. (TSX-V: FINX) ("FinEx" or the "Company") is pleased to announce it has commenced diamond drilling on its 100% owned Ruoppa gold project, located in the Central Lapland Greenstone Belt of northern Finland.

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Horizon Minerals Limited  Acquisition of Gordons Dam Project near Black Swan

Horizon Minerals Limited Acquisition of Gordons Dam Project near Black Swan

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ,OTC:HRZMF) is pleased to announce commencement of regional consolidation of assets ("Acquisition") near the 100% owned Black Swan processing facility via executing a Binding Tenement Sale Agreement ("TSA") with Yandal Resources Limited (ASX:YRL) ("Yandal").

HIGHLIGHTS

- Binding TSA executed with Yandal for the acquisition of 100% interest in the Gordons, Mt Jewell, Malone and Mulgarrie gold projects in the Western Australian goldfields

- Projects comprise 34 granted mining, prospecting, exploration and miscellaneous licences covering an area of approximately 77 km2 strategically located in close proximity to the Black Swan processing plant:

o Gordons Dam project, 10km west-south-west of Black Swan with an established mineral resource of 365 kt grading 1.7 g/t Au for 20 koz with mineralisation open at depth and along strike and on a granted Mining Lease

o Multiple drilling targets identified including the advanced Star of Gordon and Malone prospects

- Projects acquired for total consideration of A$2.810m on the following terms:

o $0.2m refundable cash deposit on execution of the TSA (paid)

o $1.0m cash from existing reserves (Cash Payment) on completion, and

o $1.610m in fully paid ordinary Horizon shares (Consideration Shares) on completion at an issue price equal to a 10% discount to the 15 trading day volume weighted average price up to and including the day immediately prior to the date of execution of the TSA. The issued shares will not be subject to any escrow restrictions. The share consideration may also be paid as cash, at Horizon's election at the time of completion.

Commenting on the Acquisition, Managing Director and CEO Mr Grant Haywood said:
"We are pleased to acquire these projects in close proximity to our processing infrastructure. Our key focus is completing study work with the aim of generating a five-year life of mine plan processing through our Black Swan processing plant."

"In addition to the resource at Gordons Dam, these assets complement our current large strategic land holdings in the WA goldfields. We see great potential in this area for further resource growth along with enormous exploration upside."

The Company is focussed on becoming a standalone gold producer by refurbishing and repurposing the Black Swan processing plant into a gold plant with a nominal throughput of 1.5Mtpa. Horizon is undertaking a Pre-Feasibility Study (PFS) to develop a five-year life of mine plan to feed the plant.

This acquisition is very close to Black Swan and complements the Company's existing extensive tenement portfolio.

Project Summary

The Gordons Project area comprises of 34 granted mining, prospecting and exploration licences covering a mostly contiguous area of approximately 77 km as well as four pending mining and miscellaneous licenses (Figures 1 and 2*). A complete list of the tenements in Appendix E Table 2*.

The Project is located within a prospective Archean Greenstone sequence of lithologies which also hosts the Mulgarrie and Gordon Sirdar Gold Mines (Figure 2*). Several gold prospects and targets at various stages of exploration and development as well as the Gordons Dam Deposit comprise the Gordons Project (Figure 3*). Horizon Minerals is of the opinion that there is potential to identify extensions to mineralisation across numerous gold targets and prospects.

Mineral Resource Estimate (MRE)

Located within the Gordons Dam project area is the Gordons Dam deposit which has a MRE of 365,000t @ 1.7g/t Au for 20,000oz (> 1g/t Au lower cut-off grade) (Figure 3*).

The Gordon's Dam deposit includes mineralisation hosted within laterite, transported cover sediments (paleochannel material) and weathered and fresh bedrock. Primary mineralisation occurs in quartz veins that occur at the margins of pillow basalts intruded by later microgranite/porphyrys.

Mineralisation within the MRE extends from approximately 30m below surface to a current maximum depth of 120m. Zones of mineralisation are associated with a laterally extensive paleochannel at the base of oxidation and at depth into the fresh bedrock with an overall mineralised north-west trend of approximately 320m in strike length. Further detailed information on the Gordons Dam MRE is presented in the Technical Overview section of this announcement.

Acquisition Key Terms

The Company has executed a binding Tenement Sale Agreement ("TSA") to acquire the project areas from Yandal Resources Limited, for a total consideration of A$2.810m.

The A$0.2m refundable cash deposit already been paid, with deferred consideration of A$1.0m in cash and $1.610m in Horizon shares payable at settlement with the shares to be issued at an issue price equal to a 10% discount to the 15 trading day volume weighted average price up to and including the day immediately prior to the date of execution of the TSA The consideration will be funded from existing cash reserves and placement capacity.

*To view full details in the announcement, please visit:
https://abnnewswire.net/lnk/V4721V7K



About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ,OTC:HRZMF) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

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